18.03.202604:27:06UTC+00NZX 50 Jumps 1.0% at Close

The NZX 50 rose 133 points, or 1.0%, to close at 13,316 on Wednesday, building on gains from the previous session. The advance came amid stronger U.S. equity futures ahead of the Federal Reserve’s rate decision later today and the release of its first economic projections for 2026.

In China, New Zealand’s largest trading partner, the People’s Bank of China is set to conduct its monthly review of key lending rates on Friday. The central bank has kept these benchmark rates at record lows for nine consecutive months as of February in an effort to bolster economic growth.

On the domestic front, fourth-quarter GDP data is due in the coming days. Local media reports indicate that New Zealand’s economy may be “turning a corner,” supported in particular by the primary sector and a rebound in tourism. Nonetheless, the deteriorating situation in the Middle East has clouded the outlook, with rising prices and renewed supply chain disruptions weighing on investor sentiment.

Sector-wise, consumer durables, industrial services, and utilities led the market higher, while logistics, healthcare, and technology services underperformed. Notable gainers included Tourism Holdings (up 6.6%), Scales Corp (up 4.7%), Hallenstein Glasson (up 3.0%), and Genesis Energy (up 2.8%).